Blockchain News

DeBank Releases DeFi Wallet Extension, Rabby, Boasting Intuitive Multi-Chain Support

The Rabby browser wallet is tailored for users in the DeFi era, and utilizes intuitive chain switching technology.

Switching Chains

DeBank has launched its Rabby browser wallet on the premise that other in-browser wallets aren’t keeping up with the needs of crypto users. 

Decentralized finance (DeFi) had break out year in 2020, and has continued to be an important part of the blockchain landscape in 2021. While Ethereum may have been the only chain in town 12 or 18 months ago, significant other players have now entered the fray including Binance Smart Chain, Solana, Avalanche, and Polygon. 

“It is a nightmare to frequently switch among different chains while using DeFi on multiple chains at the same time,” according to the Rabby Medium post on July 26. "This is really inconvenient and error-prone.”
Rabby works on multiple chains with automatic switching

DeBank believes that DeFi users now regularly juggle their finances between multiple chains and protocols such as Uniswap (Ethereum) and PancakeSwap (Binance Smart Chain). 

On other in-browser wallets, the users would have to swap between chains manually, but with Rabby, the wallet automatically switches chains depending on the site being accessed.

Detailed Signing and Scanning

DeBank has also created a confirmation pop-up window offering greater detail so Rabby users can have confidence in the transactions they are approving. 

“99% of DeFi users are blindly signing transactions they don’t really understand at all, which is extremely risky for their life savings,” Rabby claims. Adding that, “Rabby helps you understand what you are really signing and show your estimated balance change before you sign.”

Rabby wallet also alerts users if the interacting wallet has been attacked or compromised before or if the recipient address is not valid. 

In creating Rabby, it seems that DeBank is seeking to give MetaMask some food for thought. Right now, the Rabby extension is best used on Google Chrome, so it still has some space to grow.

With a long list of intriguing features the Rabby wallet could become a driver of innovation in the DeFi space. 

Related News